I defy anyone to "set" this up.....use Donnington if you're game.
I already wasted enough time, and to put this car/game into perspective, even with my lowly DFGT, Gunthar's 2007 F1 mod for RACE07 destroys this, and if you use a G27 or greater+ one of Reiks great set ups, you'll experience something close to sim racing bliss.

You can buy RACE07 for $5-$6 on steam, and the F1 mod and set ups are free.

I usually reduce downforce overall, soften rear suspension, and adjust diff settings slightly. For now don't be concerned about world records. They'll be wiped every week as they change the courses and cars. Also, the Formula A, though pretty damn nice with light setup, is fundamentally flawed in that it has too much aero grip at high speed and too little mechanical grip at low speed.

The devs have acknowledged this and are waiting for tire model tweaks before fine tuning any of the cars into any kind of "final" setup.

EDIT: Build 239 has tweaks to Formula A mechanical grip and aero grip/influence and it is DAMN good now!